Business
Veteran Fund Manager Whitney George to Join Sprott
Sprott Intends to Assume Management Contracts for $285MM of Specialty Funds  TORON...
About this update from Sprott Inc.
[{"type":"text","content":"\n\nSprott Intends to Assume Management Contracts for $285MM of Specialty Funds \n\n\n\nTORONTO, Nov. 10, 2014 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\" or the \"Company\") today announced that Whitney George has agreed to join Sprott as Senior Portfolio Manager. Mr. George will be based in New York and will be a key contributor to the expansion of Sprott's business in the US.\n\nMr. George is a veteran portfolio manager who spent the last 23 years in senior roles at Royce & Associates LLC (\"Royce\") in New York. Mr. George was co-Chief Investment officer of Royce from 2009 to 2013 and was most recently Managing Director and Portfolio Manager.  In his time at Royce, he was instrumental in helping to build the firm into one of the largest and most respected small-cap managers in the US.\n\n\"I am excited to be joining Sprott and look forward to contributing to its performance-oriented culture, while adding to its product and geographic diversity,\" said Mr. George. \"In doing so, I intend to personally build a significant equity stake in Sprott, an organization that I have come to admire as an institutional investor.\"\n\n\"We are very pleased to welcome a professional of Whitney's stature to our team,\" said John Wilson, CEO of Sprott Asset Management. \"He has a long track record as a portfolio manager and business builder and we look forward to his contributions to our investment team and the growth of our US business.\"\n\nSprott also announced that it has executed a letter of intent with Royce to support the transfer of the management contracts of two US funds with total AUM of approximately $285 million to Sprott, subject to investor and regulatory approval.\n\n\"Whitney is joining Sprott because he believes we have the potential to continue expanding our business both in the US and internationally,\" added Peter Grosskopf, CEO of Sprott. \"He is bringing two existing funds to our platform, which we expect to be immediately cash-flow positive to Sprott and support the expansion of our US growth plan. Whitney will play a key role in helping to elevate our profile outside of Canada, while also supporting the growth of our institutional business.\"\n\nAbout Sprott Inc.\n\nSprott Inc. is a leading independent asset manager dedicated to achieving superior returns for its clients over the long term. The ...